* Philippines shares hit almost six-week low
* Indonesia cenbank rate decision due later
* Singapore economy grows 0.5% y/y in Q3
By Arundhati Dutta
Nov 21 (Reuters) - Southeast Asian stock markets opened
sharply lower on Thursday as the United States and China sparred
over U.S. bills on Hong Kong and concerns emerged that an
interim trade deal may not be signed this year.
The U.S. House of Representatives passed two bills on
Wednesday backing pro-democracy protesters in Hong Kong, which
President Donald Trump is expected to sign into law. Sapping investor sentiment further, trade experts and people
close to the White House said completion of an initial trade
agreement could slide into next year, as Beijing and Washington
were unable to agree to terms of tariff rollbacks. Philippines shares .PSI fell more than 1% to their lowest
level in almost six weeks, dragged by blue chips Aboitiz Power
Corp AP.PS and Ayala Corp AC.PS , which skidded 1.7% and
1.5%, respectively.
Singapore stocks .STI slid 1.2% in early trade to a more
than three-week low. The market recovered slightly later as data
showed the city-state's economy dodged recession and grew better
than expected in the third quarter.
Singapore's GDP rose 0.5% year-on-year, beating the
government's advance estimate and matching the growth forecast
in a Reuters poll. Liu Jinshu, director of research at Tayrona Capital Pte Ltd,
said he expected losses to narrow further, given the market's
resilience and low volatility so far.
"In terms of yield, our local banks are pretty attractive,"
he added.
The Singapore stock market has been the region's second best
performer this year after Vietnam .VNI , racking up a near 5%
gain.
Indonesian equities .JKSE slipped by 0.6%, with financials
weighing on the index ahead of the Bank Indonesia's policy
meeting later in the day. Most analysts expect the central bank to leave policy rates
unchanged, having cut rates four times back to back this year.
"A patient pause will afford BI scope to ease further in
2020 should global headwinds to growth pick up, while inflation
is likely to stay within target," ING analysts said in a note.
Malaysian shares .KLSE dropped 0.7% to their lowest since
Nov. 1, while Thai stocks .SETI declined for a third straight
session.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS at 0313 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3205.52 3229.78 -0.75
Bangkok 1593.94 1596.83 -0.18
Manila 7789.37 7898.06 -1.38
Jakarta 6117.639 6155.109 -0.61
Kuala Lumpur 1590.34 1601.14 -0.67
Ho Chi Minh 999.5 1000.56 -0.11
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3205.52 3068.76 4.46
Bangkok 1593.94 1563.88 1.92
Manila 7789.37 7,466.02 4.33
Jakarta 6117.639 6,194.50 -1.24
Kuala Lumpur 1590.34 1690.58 -5.93
Ho Chi Minh 999.5 892.54 11.98